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story. and the second is, of course, the remarkable thing going on with energy based around shale, gas and oil. if these two sources of strength persist, you know, is the disappointment about the cliff enough to negate those two things? i suspect the answer is probably not. what it might mean is the difference between an economy that's going in the 2% vicinity of one that could, if a credible deal unleached from the korcht sector and beyond, one that could get back to what most people were -- if not normal, think of the old one in the 3% vicinity. >> jim, to the extent a client were to call you today and say, look, the market is dounl a little bit and who knows if it will be later today. do us this is a buying opportunity, then? >> well, you know, because i look at, obviously, things in such a global context, in any case, because the u.s. market has rallied so much from 2009, and as you guys, i hope, recall, i've been in the bull camp ever since, measures of valuation in particular so-called capital adjusted p/e ratio tight model which is a very conservative approach. the u.s. market i
to be gone, we need the government to create the next energy industry. we will spend all this money on these renewable things. it will be great. we know how to do it, we have experts. then a disruptive market driven technology comes along that generates $2 natural gas makes all that stuff or basically puts it into the future and the money just went down the drain. a case study the way dwogovernm planning and infrastructure spending, you will get 10 cents of every dollar you spend, basically. that should be in a future book, shouldn't it, to show you the way? we have to learn it again and again. >> it should. as your kids get older and my kids are at that age, it should. as a you start to see some of the school's syllabus for business classes and marketing classes, what you will learn, joe, making a profit is the last thing any of these classes want to teach. >> it's a dirty business. >> there was a time 4 or 500 years ago a middleman marked something up, that was supposed to be a bad thing. supposed to have a zero-sum game between buyer and serier and i thought we all learned about
to you? we talked about it briefly the other day with you. >> it's where to be in energy. you know, natural gas -- one of the things about natural gas which i love is that everybody kind of -- you see them come on your show and elsewhere on cnbc and they talk about this great boom that's going on in shale drilling. and i'm on the other side at this point and this is a tremendous bust in shale drilling that's going on because the price will not allow the innovations to move forward at this point. there's no demand source that's coming back into the market. >> a little better. >> there's no transport demand session coming back. >> it's better than 180. it's not what's needed for a real excitement about the fuel which is $5, $6, $7. >> so should we have a national policy to try to use more of this national gas and pump prices up and get people to do that instead of focusing on solar and hoping we'll have sun? >> yeah. by the way, i think that we should be doing both. that's really -- i think we should be doing both. but in terms of natural gas in 2012, there's been failure after failu
's accommodative. energy prices and dependent reducing. look-term we get to the right place. but we've got to get a credible solution that has integrity. the more integrity the solution has, the more it addresses the long-term issues. the more cash will move out of investor portfolios and into markets. >> because looking at across this, as you say, valley, and abroad, there are people like mark fauber that think that assets will be marked down 50% based on what we already owe in terms of commitments to be made and entitlements in this country. so that what we've seen in other parts of the world is already going to happen here, that we can't really change our future. so you could make a -- you could make a decision as a wealth manage her to get defensive, not based on the fiscal cliff but based on the fiscal abyss. >> you could. for individuals, though, you asked the question earlier, andrew, what can you do? it's almost impossible for individual investors to market and be successful. so what do you do in an environment like this? every individual ought to have a plan. they ought to have a place t
in the bill an extension of tax credits for clean energy, for education. you've got some of the stimulus measures, expanded earned income tax credit, expanded childcare -- child exemption that was in the bill. so all of these thing are tax cuts for middle and modest income families, although they are going to lose, becky, because we did not extend the payroll tax cut, that temporary 2% cut that means about $20 a week for a family making $50,000. so that is a -- a bit of a counter drag on the economy from the whatever boost it's gotten from theection tension of middle-class tax cuts. >> i've seen that in places they're estimating as much as 0.5% of gdp growth because of the payroll tax alone. you look at that, and people expect that if you continue to want social security you're going to have to fund if t somehow. this is money that's supposed to be going to that. >> that's right. and the payroll tax cut was always intended as a temporary measure to stimulate the economy. and if you reason that you stimulate the economy until it's recovering, we're in a recovery now. so there's logic to l
Search Results 0 to 4 of about 5

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